Digital transformation spending to grow
Hyderabad: Businesses are driven by data, process and people and there is a demand to undertake digital transformation. Market data reveals organizations around the world spent close to $1.2 trillion in 2019 on various digital transformation initiatives, and this is expected to grow at about 20 per cent per year for the next few years.
ManageEngine is in the business of managing technology infrastructure end-to-end, and it believes more companies adopting technology for their digital transformation presents a massive opportunity. The company works with public and private sector majors such as Indian Overseas Bank, Bharat Petroleum, Bharat Heavy Electricals Limited, Reliance and Aditya Birla Group.
Rajesh Ganesan, VP, ManageEngine told Telangana Today, “Technology is applied in all walks of life today, and most organisations start by implementing technology for purposes such as faster communication, easier collaboration, and job automation to drive productivity and efficiency. The key thing here is how well the leadership understands the business transformation they need to undergo, and whether they know how to optimally apply technology to achieve that transformation.”
Organisations should not start with the question, “Would digital transformation suit us?” Rather, the leadership should have the vision and clarity about how their business could transform to meet future goals. Those who have the expertise to leverage technology in aiding this transformation carry a huge lead over those who don’t. While factors such as size, geography, and culture do matter in how the organisation eventually transforms, not undergoing the transformation isn’t an option.
“We offer products for IT service and operations management, unified endpoint management, identity and access management, IT security and IT analytics. The suite has about 90 products, 50 of which are free tools. Our strategy is to have simple, focused point products that also integrate contextually to effectively solve a larger problem. IT security is a particularly special focus area for us, and we plan to offer solutions around user behaviour analytics, threat response from endpoints, and applying artificial intelligence and machine learning to effectively handle IT operations and security,” he informed.
ManageEngine sells its products in 190 countries and have so far served over two lakh organisations. The products are available in both on-premises and cloud versions.
It goes without saying that businesses today have to be digital businesses; that means it is all about data and how it is managed. As the cliche goes, data is the new oil. Organisations that know how to make the most out of their data definitely have an edge over the competition. With great advancements in technologies such as data analytics, data mining, and machine learning, storing more data is typically a better proposition for businesses.
While data offers tremendous opportunities, it does bring many challenges, including building the talent to derive insights that could help the business, and ensuring the security and privacy of all the information. This opportunity has actually led to a new role being created, the chief data officer.
With India’s demographics, population, and the aspiration to transform into a leading economy, it has already embarked on many such digital transformation initiatives. The most apparent examples of technology transforming people’s lives are cab aggregation, entertainment on-demand, and mobile banking. However, what truly demonstrates India’s success is the transformation in government agencies and the way they operate, noted Ganesan.
As a technology solutions provider, India continues to lead in building and delivering large-scale projects as it is home to prominent technology powerhouses.
He added, “India started slowly as a market for us, but is currently the second fastest growing market and fifth largest in terms of revenue contribution. Technology adoption has been on the rise in India, and recent regulations from the government around better management and security have also been drivers for customers looking for products like the ones we offer. We sell both directly to customers and through the channel in India; our plan is to diversify the channel network to cover more regions of the country.”
Cybercrime is of course undergoing its own digital transformation. Hackers operate from the dark web and demand ransoms in bitcoins to remain totally anonymous. There is transformation aided by technology, and it makes it even harder for companies to address information security, which will get the most prominence in the near future.
The security models of only protecting the perimeter or installing static security software are long gone; we are in an age where every action on any piece of data, done by anyone regardless of who they are, needs to go through layers of security checks before it is allowed.